Thornwood Close, Thurnscoe, Rotherham, South Yorkshire, S63 0LJ
3,327 Sq Ft (309.08 Sq M)
£550,000 for the Freehold
Residential Apartments
Key Features
FOR SALE - FREEHOLD APARTMENT BLOCK INVESTMENT OPPORTUNITY
HIGH YIELDING FREEHOLD BLOCK OF 6 X TWO-BEDROOM APARTMENTS IN A DESIRABLE RESIDENTIAL AREA WITH CAR PARKING
GENERATING A COMBINED RENTAL INCOME OF £42,600 PER ANNUM PROVIDING A LOW AVERAGE RENT OF £592 PCM
EXCELLENT RENTAL GROWTH POTENTIAL WITH POTENTIAL ERV OF £50,400 PER ANNUM (£700 PCM PER FLAT) 'AS IS'
SPACIOUS, GOOD QUALITY AND WELL-MAINTAINED APARTMENTS
TWO BEDROOM APARTMENTS RANGING FROM 51 TO 52 SQ M (549 - 560 SQ FT) GIA
OFFERS OVER £550,000 REFLECTING A GROSS YIELD OF 7.75% AND REVERSIONARY YIELD OF 9.16%
General Description
FOR SALE - FREEHOLD APARTMENT BLOCK INVESTMENT OPPORTUNITY
- Unbroken Freehold Investment
- 6 Self Contained Apartments
- Reversionary
INVESTMENT SUMMARY
High yielding freehold block of 6 x two-bedroom apartments in a desirable residential area with car parking
- Generating a combined rental income of £42,600 per annum providing a low average rent of £592 pcm
- Excellent rental growth potential
- Potential ERV of £50,400 per annum (£700 pcm per flat) 'as is'
- Good standard of accommodation
- Spacious, good quality and well-maintained apartments.
- Two double bedrooms each
- Designated parking of at least 1 space per apartment
- Apartment sizes range from 51 to 52 Sq M (549 - 560 sq ft) GIA
Offers over £550,000 reflecting a gross yield of 7.75% and reversionary yield of 9.16%
DESCRIPTION
Six spacious two-bedroom apartments providing good quality accommodation over three floors, with designated parking for each apartment.
Each apartment is equipped with large double bedrooms, a large living room and a good-sized bathroom. Each is equipped with a bath, shower and fitted kitchen. There is double glazing and electric central heating system throughout.
Externally there is a secure car park each apartment benefitting from at least one space. The property was built around 2007/8.
LOCATION
Thurnscoe is a village located in South Yorkshire, within the metropolitan borough of Barnsley. Positioned between the towns of Barnsley and Doncaster, it lies within the Dearne Valle, providing a mix of residential housing, local shops, and community facilities. The village is well-connected by road and rail, with a railway station that provides links to larger towns and cities in the region. A635 connects Thurnscoe to Barnsley and Doncaster. A1(M) is 5 miles drive to the east.
ACCOMMODATION
Apartment sizes range from 51 to 52 Sq M (549 - 560 sq ft) GIA
Total GIA (excluding corridors and communal space) is 309 Sq M (3,327 Sq Ft)
Please contact the agent for a full breakdown. Floor plans available upon request.
TENANCIES / RENT ANALYSIS
Total passing rent: £42,600 per annum
Apartment rents range from £550 to £650 pcm with the average being £592 pcm - providing great opportunity for growth.
The apartments are held on 12 month Assured Short hold Tenancy Agreements to working tenants - copies are available upon request.
We consider the Estimated Rental Value to be an achievable £700 pcm per apartment, which would provide a total ERV of £50,400 per annum.
With a modest modernisation of the apartments, we expect the rents could be increased further to circa £750 pcm.
GUIDE PRICE
Offers over £550,000 reflecting a gross yield of 7.75% and a reversionary yield of 9.16%.
TENURE
Freehold - unbroken
EPC
All EPC's between C & D. Copies available upon request.
COUNSIL TAX
Each apartment is in council tax Band A.
DATA ROOM
Please get in touch for access to the data room.
AML
Purchasers will have to supply information to comply with Anti Money Laundering Regulations.
VIEWINGS
By appointment with the Sole Agents below:
Ben Flint
07494735001 01302 639838
ben@flintrealestate.co.uk
Alexandra De Freitas
07538844869 01302 639838
alexandra@flintrealestate.co.uk